$ICP โ Short-Term Recovery Watch ๐
$ICP has cooled after a strong impulsive move ๐ and is currently trading within a descending channel ๐. This appears to be a healthy correction rather than a breakdown. Price is holding a key demand zone around 3.10โ3.15 ๐ข, where buyers previously stepped in. As long as this support holds, the structure favors recovery over panic selling.
The RSI has reset from overbought levels and is moving toward neutral โ๏ธ โ often a signal that the next move is being prepared.
Trading Perspective:
Patience is key โณ.
Holding above 3.10โ3.15 could lead to a bounce toward 3.25 ๐ฏ, followed by 3.37.
A break above the descending channel ๐ผ may open the way to major resistance at 3.50โ3.52, which, if cleared, would return short-term control to the bulls ๐.
Risk Management: A drop below 3.05 โ would weaken this setup and delay potential upside.
$ICP is showing a structured recovery โ timing entries carefully and respecting support zones is crucial.